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This study examines the relationship between contingent faculty employment and graduation rates at Minority-Serving Institutions (MSIs) from 2012 to 2019. Using panel data from the Integrated Postsecondary Education Data System (IPEDS) and two-way fixed effects regression models, the analysis tests whether institutional reliance on non-tenure-track faculty affects student success measured by graduation rates and whether effects vary by institutional control (public vs. private) and level (2-year vs. 4-year). While the baseline model shows no significant overall association, moderation analyses reveal that contingent faculty are linked to lower graduation rates at private MSIs but more positive or neutral effects at 2-year MSIs. These findings underscore the importance of institutional context in interpreting contingent faculty effects on student outcomes.